For 2013, the new "borderless" business environment will present the greatest opportunities to companies in IT, finance, HR and other business services areas, as companies strive to reduce costs and meet aggressive revenue projections, according to a new Enterprise Key Issues Study from The Hackett Group, Inc. (NASDAQ: HCKT).
The Hackett Group's research identified new opportunities for companies to roll out a flexible, virtual, data-enabled model for service delivery. For 2013, the research found a growing productivity gap, as revenues are once again expected to rise while budgets and staffing will decrease slightly in IT, finance, procurement, and HR. Companies are also continuing to dramatically accelerate their use of Global Business Services (GBS) operations, an evolution beyond shared services which integrates and consolidates multiple business functions. Nearly 200 executives from large companies participated in the study, representing companies in the U.S., Europe, Asia Pacific, and elsewhere.
"The dramatic shift we're seeing in the global business environment bears similarities to the fall of the Berlin Wall in 1989," explained The Hackett Group's Chief Research Officer Michel Janssen. "Companies are fully realizing that growth is no longer limited by physical borders. Internally, functional borders between business services operations are also coming down in the wake of cross-enterprise, end-to-end process ownership. Finally, there are dramatically fewer barriers to service delivery placement, with Global Business Services operations able to provide seamless support to internal customers.
"All this has created a dramatic new opportunity for companies to improve agility and flexibility, and achieve new levels of efficiency and effectiveness through a focus on standardization, globalization, and a new technology-enabled model for service delivery," said Mr. Janssen. "But what's required is for companies to drive towards one view of their products/services, their clients, and their financials. This is something that most companies still find tremendously challenging."
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV